Would you Buy a House right now !!!!
May 19th 2010, 11:23 am
#16
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Re: Would you Buy a House right now !!!!
You can doubt it all you want. Why is it so hard to believe? We used the money from the sale of our previous property back in Canada so that our mortgage and taxes will work out to less than what we currently pay in rent. It's not that unrealistic really...
Taking into account mortgage, taxes and water rates, when we move into our own house, we'll be paying $363 a month less than we are now in rent (using current interest rates as our calculation base, obviously when rates rise, that makes for a smaller amount). When our rent goes up $50 per week after our lease expires next year, we'd be paying $563 a month less with our own mortgage. Maybe it's just us, but we'd rather be paying less. Others may want to rent and pay more money...everyone's different.
Taking into account mortgage, taxes and water rates, when we move into our own house, we'll be paying $363 a month less than we are now in rent (using current interest rates as our calculation base, obviously when rates rise, that makes for a smaller amount). When our rent goes up $50 per week after our lease expires next year, we'd be paying $563 a month less with our own mortgage. Maybe it's just us, but we'd rather be paying less. Others may want to rent and pay more money...everyone's different.
May 19th 2010, 11:45 am
#18
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Re: Would you Buy a House right now !!!!
Like I said it's not as easy as that. You need to take a lot of things into account. If you belive renting is cheaper for you then go for it.
IMO you are paying rent to someone who is also making money on the increase on the property value. And I know you are going to say that house prices have dropped, but REAL investors don't Dabble in it and are in it for the long term. You look at any 10year period and you will see that the price has always increased.
IMO you are paying rent to someone who is also making money on the increase on the property value. And I know you are going to say that house prices have dropped, but REAL investors don't Dabble in it and are in it for the long term. You look at any 10year period and you will see that the price has always increased.
May 19th 2010, 12:06 pm
#19
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Re: Would you Buy a House right now !!!!
why are you putting so much down as a deposit? I really think that many of Brisbane's outer suburbs have some way to go before they hit a ceiling. At the end of the day if you are buying so that your family has a home for life then what does it matter if the arse falls out of the market. If you have no intention on selling then it will not affect you in the slightest. If you're in it to make a quick buck, then you are always taking a risk no matter what the market conditions or country you are in.
we could have a 95% mortgage and buy the house we wanted but we'd be dipping into savings to pay the monthly amount which doesn't seem right to me!
May 19th 2010, 1:54 pm
#20
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Re: Would you Buy a House right now !!!!
By your thinking all money spent is dead.
You don't have a vested interest in talking up property perchance?
Oh, judging by your signature, possibly you do.
May 19th 2010, 3:45 pm
#21
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Re: Would you Buy a House right now !!!!
I won't be buying anytime soon !
May 19th 2010, 8:39 pm
#22
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Re: Would you Buy a House right now !!!!
May 19th 2010, 9:28 pm
#23
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Re: Would you Buy a House right now !!!!
Nope... its cheaper each month to rent for me. House money is invested in other means and is doing rather well
Em x
Em x
May 19th 2010, 9:29 pm
#24
Life's a gamble
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Re: Would you Buy a House right now !!!!
Why IYO is it dead money? Your paying for a service. Is buying an airline ticket or renting a car also dead money?
By your thinking all money spent is dead.
You don't have a vested interest in talking up property perchance?
Oh, judging by your signature, possibly you do.
By your thinking all money spent is dead.
You don't have a vested interest in talking up property perchance?
Oh, judging by your signature, possibly you do.
. And as you say you are PAYINGfor a service for which you won't have to if you bought your own home.Let's agree to disagree on this one.
Never believed in negative gearing, that's where SO MANY people have failed. Negative gearing may work in a climbing market but not in a level or declining market.
May 20th 2010, 6:03 am
#25
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Re: Would you Buy a House right now !!!!
Interesting on how mixed this thread is going.
If the Dollar keeps dropping like a stone, surely this isn't good news
If the Dollar keeps dropping like a stone, surely this isn't good news
May 20th 2010, 7:08 am
#26
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May 20th 2010, 7:08 am
#27
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Re: Would you Buy a House right now !!!!
Just paid our deposit today - now you've got me scared!!!!
May 20th 2010, 7:38 am
#28
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Re: Would you Buy a House right now !!!!
Yes.
I would as it would be my home for the next few years. If a massive crash happened then eventually, I assume, the valuation would correct itself.
I bought my first property and made a fortune in 8 months. I went on to buy my next house which decreased in value for a number of years, I eventually sold it for a mere £4k more than I had paid for it 8 years later.
My next property doubled in price within 4 years.
If you're buying to make a short term profit then maybe it's not such a good time given the speculation that property is about to tumble? But who knows?
I would as it would be my home for the next few years. If a massive crash happened then eventually, I assume, the valuation would correct itself.
I bought my first property and made a fortune in 8 months. I went on to buy my next house which decreased in value for a number of years, I eventually sold it for a mere £4k more than I had paid for it 8 years later.
My next property doubled in price within 4 years.
If you're buying to make a short term profit then maybe it's not such a good time given the speculation that property is about to tumble? But who knows?
This kind of post really makes me scream. Houses are homes NOT ATM machines. It's people like you "making a fortune in 8 months" that have ruined your children and grandchildrens' chances of ever owning a home to live in.
May 20th 2010, 7:40 am
#29
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Re: Would you Buy a House right now !!!!
